Foreign exchange for business clients

FAQs

• Why should I use Raphaels Bank?
  We can provide you with an experienced and dedicated single point of contact who will monitor the market on your behalf. We offer excellent exchange rates and the assurance of a quick and secure service.
  
  
• Will the exchange rate I receive be competitive with the
  high street banks?
  Definitely. The rates we quote will be extremely competitive. Our dealers will always endeavour to provide you with the best overall deal.
  
  
• Is my money safe?
  Yes. We are a bank and with that comes the reassurance our client funds are held securely. Upon settlement of your contract, your funds will be held on a secure client account at Raphaels Bank. This account is specifically used to lodge funds until we receive written confirmation from you regarding where your funds need to be transferred.
  
  
• Do I have to open a trading account if I am only using the service once?
  Yes, we are legally obliged to obtain certain information before being able to carry out the deal. All customer information is kept confidential and will not be passed onto third parties. The trading agreement form is very simple and should not take long to complete.
  
  
• How do I register?
  Call 0800 587 8722 and ask to speak to one of our dedicated dealers who will be able to help. Alternatively complete our application form.
  
  
• How long will it take to set the account up?
  Once we receive the trading agreement form, providing all required information has been supplied, set up of the account should take between two and three days. Our team will, however, make every effort to complete this sooner, where possible.
  
  
• What is the minimum amount?
  We will be able to offer a competitive rate of exchange on any amount over £5,000
  
  
• How long do transfers take?
  Transfers are initiated on receipt of funds and are subject to time zones and local banking hours. Usually, transfers to the US and Western Europe occur within 24hrs.